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people -- in your campaign -- a balanced budget by 1983. biggerow had more and deficits in the 4 years you've been in office. mr. president, do you have a secret plan to balance the budget sometime in a second term, and if so, would you lay out that plan for us tonight? the president. >> i have a plan -- not a secret plan. as a matter of fact, it is the economic recovery program that we presented when i took office in 1981. it is true that earlier, working with some very prominent economists, i had come up, during the campaign, with an economic program that i thought could rectify the great problems confronting us -- the double-digit inflation, the high tax rates that i think were hurting the economy, the stagflation that we were undergoing. before even the election day, something that none of those economists had even predicted had happened, that the economy was so worsened that i was openly saying that what we had thought on the basis of our plan could have brought a balanced budget -- no, that was no longer possible. so, the plan that we have had and that we are following is a plan
economy that we're in today, and that is that these heavy deficits have killed exports and are swamping the nation with cheap imports. we are now $120 billion of imports, 3 million jobs lost, and farmers are having their worst year. that's another reason to get the deficit down. >> mr. mondale, is it possible that the vast majority of americans who appear to be prosperous have lost interest in the kinds of programs you're discussing to help those less privileged than they are? >> i think the american people want to make certain that that dollar is wisely spent. i think they stand for civil rights. i know they're all for education in science and training, which i strongly support. they want these young people to have a chance to get jobs and the rest. i think the business community wants to get involved. i think they're asking for new and creative ways to try to reach it with everyone involved. i think that's part of it. i think also that the american people want a balanced program that gives us long-term growth so that they're not having to take money that's desperate to themselves and
of the fed. certainly fed jim bernanke and a big hawk about our deficit. good to have you on the program. >> thank you, maria. good to be with you. >> what are you expecting? do you think governor romney comes out swinging right off the bat? what do you think he is going to be pressured and asked about in terms of specifics on his economic plan? >> overall i don't expect a whole lot of specifics from either one. in the last several weeks the whole of the discussion has been on debate techniques and who's going to make the biggest gaffe. hopefully they'll get to the bottom of it. but i don't know if they'll get around to what i consider the biggest financial issues, the debt crisis that we have. and what are they going to do about it. and how do they relate to the federal reserve. say we can't have much to do with it. let the fed monetize the debt and go on and on? i have not heard from either one of them actually cutting something. so i'm afraid the important issue of the financial crisis that we're in the middle of is going to get worse. my prediction is they won't really deal with it t
the deficit by $4 trillion and raise the taxes on the wealthy. that means nothing in an economy where we would be running more than $1 trillion the annual deficit. mitt romney needs to come out and just do the arithmetic for people. the average american understands state of this economy. the banks on wall street monday doing good,. ashley: case in point. ohio, which is a very important swing state, if you look at their personal income since december 2007, it has risen a whopping 2.1%. in nearly five years. mr. obama has a lead not. >> yes, the pools are an open question. i don't buy it, but i'm not a professional pollster. i think we do raises another interesting point. which is what this administration promises, we did not promise certain things -- but he promised that he would have the deficit, and where are we? the deficit has doubled and the president said that he would reduce the cost of health care. that has gone on. ashley: the numbers are there. let's bring in our next guest. he talks about the need for economic patriotism. >> given how many times we have heard people from the left ref
fought our way out of these deficits and the last 12 years when we have gone from 4 trillion dollars in debt to 16 trillion dollars today? >> i am glad you mentioned that number. it is going to cause a huge problem. if you have cancer you do not wait until it is over your whole body. get all of these things, really explain the problem, and hopefully we will get people to deal intelligently with the problem. your wife he ran on fiscal responsibility in washington, declining trust in government, in addition to nafta. the truth is we are much worse on all of those issues today than we were in 1992. gooif you look back at 1992, in part because of the world ross , they did several things. impose budget controls and taxes when they thought they were responsible. they did the right thing for the country. president bush 43 -- his term is over. whoever the next president is needs to change course, because if we do not, the problems of europe could have here. >> we are going to talk about some of these issues of 9-11 and the war and the health -- in the tax cuts of 1998, but let me take you ba
with a clear, credible, concrete, and enforceable plan to deal with the structural deficit lying ahead. you need to do both. that is the only thing that makes any sense. it is the only thing that m akes sense from the standpoint of politics. >> you spoke in 1992 about the campaign, your plan sounded then a lot like some of these bowls simpson's balanced-type plants that are coming out now. you did some of everything. you did not leave out sacred cows. the one that higher taxes, higher gasoline taxes, you wanted the wealthy to pay more weather in higher taxes or not taking entitlements. do you find that willingness to day on the part of candidates to hit all the sacred cows? >> i do not see anybody doing it, do you? if somebody is doing it, i am missing it. i thought they would hope this go away and they could run on all these things when you are talking on the television. >> would it take candidate saying you'd need to do all those things, not just going after entitlements cut domestic spending, defense, but also to raise taxes? you need to do all those things, do you feel? >> we need to do
an impact on solving the deficit and our debt picture in the 1990's? things improved >> i do not want to take credit for it, but i am pleased there is a breathing period where we are going in the right direction. now we have heard it around and it is going through the roof and is inexcusable. what is interesting is that hardly ever gets discussed, and in the papers, on the media, you would think this is front- page news. it is not. >> absolutely no question that his candidacy caused president clinton to make fiscal responsibility and much higher priority. no question. clinton will tell you that. people in his administration will tell you that. he made the difference even though he did not win. the polls will also tell you in july he was leading. in addition, the exit polls will tell you that the people who voted, if they thought they could have won, they would have voted for him and he would have won. much worse today than we were then, and people know it. >> do you think we're much worse today because he was not elected? >> we have lost our way. >> that is history. we're on the edge
, which deductions would you eliminate, let's be specific and how will you do that and reach deficit reduction, which programs will be cut? >> the question is, how do you get america back to work. what paul ryan said on your clip is, you flatten the base and increase -- excuse me, you increase the number -- reduce the number of deductions that are out there and you expand the base. that's typically what works. that can be done in a revenue neutral fashion that's what paul ryan has proposed and what that does is make america more competitive. mitt romney has been specific on how he would get america back to work and replace the failed policies of the president. andrea that's what this is about. the president's policies on job creation haven't gotten us back to work. 8% unemployment for 43 months. i mean what mitt romney said very specifically on job creation, is expanded trade by reducing the barriers, creating a better climate for america by keeping tax and regulatory policies in a better shape, energy. this president has been horrific we just lost 1200 coal jobs in virginia last wee
to avoid that before the end the year with the deficit reduction plan that deals with the expiring tax cuts and the $1 trillion cuts to defense and domestic programs. a new report out today says this could be a plan developing to help lawmakers move forward on it all. "new york times" reports that colorado democratic senator bennett and tennessee republican senator alexander are representing their parties and would in part set a deficit reduction target of $4 trillion over 10 years. congressional committee would do the work taking six to 12 months figuring out how to achieve that with tax increases and cuts to federal programs. if that fails, part two would then be an automatic deficit reduction structure in effect, likely similar to simpson-bowles. finally, lawmakers are likely under this framework, to vote to put off the tax increases and the automatic spending cuts physical some sometime in 2013. barring some action, here are examples of what would happen in 2013. if your income is $40,000 to $60,000, your taxes go up $2,000 next year. if you are in the top 20 percent with an income over
want to pay 1 dollar for it. dilemma has three governors in prison for $15 billion deficit. if they want to pay, that's the problem. misery needs to make the tough decisions. should they be put in the mix of whether we've reduced 70 or high-speed rail? is probably in the mix, but i don't think is before us now. i want to see what the load factors to be. that's my world. i want to see supply and demand. if the demand there? will supply. if not, we're not in a position to build it and they will come. we are just not there. >> jim higgins. >> okay, well i am not a transportation expert and i don't think these guys are either. actually i graduated from school as a civil engineer, but they work five years as a civil engineer, but lately i've computers. but why should a bureaucrat decide, you know, what mode of transportation is best, whether we have rail or highway is? it got us in trouble in the beginning. we built all these highways. we overdo it on the highways. now we have pollution and gas consumption because some bureaucrat decided that we needed highways. while now were t
to get the deficit down to 4.5% deficit. quite frankly, that is pie in the skil according to pretty much all the analysts and the economists. and it's just a question of how much they'll miss by. because this economy is enacting extreme austerity, and this debate is relevant whether it's obama or romney. is austerity actually denting growth, is it creating more problems than it solves. let me give you one example. we have a sales tax in this country that has been raised from 16% to 18% to 21%. that has created a slight inflation issue. now, pensions are inflation linked. and this country in november has to increase pension abouts by inflation. so by raising 2.5 billion euro v.a.t., it will cost them 3.5 billion euro misincreased pension costs. so you can see the conundrum. they're enacting enormous amounts of austerity, but that's denting an economy which is already in recession. its second since 2008. and things are getting worse. 25% unemployment, a million up sold homes. and we haven't even talked about the banking crisis and the autonomous region, some of which including catalonia ar
in deficits. >>> hundreds of mexicans are involved in the fast and furious. this is a terrible story, hundreds of mexicans may be involved. should attorney general holder be fired immediately over this new information? >>> the ism signals no recession, that's good. but is the obama-bernanke qe stimulus plan going to bail out the president in this election and what about down the road, does it give us a huge inflationary bubble? lee munson, he's chief investment officer of a port folio. you have got the feds blowing smoke and water and money at the stock market. we did have a good manufacturing report today, i like that because that's good for america. a lot of stuff that's not so good like jobs or unemployment. are you a bull or a bear? do you believe the market's going to go up or down? >> i believe it's going to go up, but the ism report, earlier this year we had bad job numbers and the market could lose steam going into the election, job numbers started to pick up all of a sudden, this manufacturing thing has been put to rest and it's going to alou us to focus more on this election. >> are
and greece are doing is trying to cut the budget deficit with 25% unemployment, and doing it when bond yields are too high to be able to dip into the market, especially for greece. so these countries have been forced to do this by the markets, brooke, not by politicians. their hand has been forced and now they're telling their people on streets they have got to be the ones that suffer the most. ironically, of course, the u.s. treasury have benefitted from all the european upheaval. it made it easier for the u.s. not to make the tough choices at this moment. any country trying to cut the budget deficit, it is harder to do while that country is in recession. it actually makes the recession worse, which makes it -- it has to be more cuts in order to meet the deficit targets. it is nearly impossible to see how the countries can do that. >> so you point out, you negotiation unemployment rate 25% in spain, running down more numbers, 54% of greeks under age 25 are unemployed. are major spending cuts raising retirement age here to 67, will that work for spain and greece? >> well, over time it should
informed, mr. president, looking at this year's budget you are going to have a trillion dollars deficit. he said, "i haven't done anything yet." [laughter] he said, no, mr. president, the budget they passed in october of last year guarantees that no matter what you do, you will have a trillion dollar deficit this year in the budget. ladies and gentlemen, these guys talk about the national debt. what date did generated the slowest growth in private-sector jobs since world war ii. it gave us this great recession. what they have not told us is that they have been unwilling to do anything about it. here's the deal, folks. we laid out a $4 trillion debt reduction plan over the next 10 years. we have already passed $1 trillion of it. ladies and gentlemen, these guys vote against everything. no, no, no. i really mean it. not only do they say they don't like our plan, so you say, what's your plan? you go out there and you look at the setup. an impressive bipartisan commission. simpson-bowles. domenichi's. every one of those plans they voted against. paul ryan even voted against the simpson-bowles p
deficits. president obama says it's not a concern in the short-term. the debate tomorrow night and the obama camp there's concern that he is so smart, we won't understand what he's saying and this morning the media displays headlines that are clearly negative on governor romney. the dow will open higher again. congress is said to be working on a budget deal. that's a plus for stocks, but question, has the little guy missed this rally? we've got it all. wait till you hear herman cain go after a student heckler and wait until you see bill o'reilly on this program today. "varney & company" is about to begin. [ male announcer ] the markets keep moving. make sure the news keeps coming with thinkorswim by td ameritrade. use the news links breaking stories with possible breakout stocks, options with potential opportunity, futures and forex with in-depth analysis. it's an all-you-can-eat buffet for all things trading. thinkorswim by td ameritrade. it doesn't just deliver news. it's making news. trade commission free for 60 days, plus get up to $600 when you open an account. pfollow the
dollar for it. illinois has three governors in prison and a 15 billion-dollar deficit if they want to pay for it that is their problem. missouri has to be responsible and make the tough decisions to read should be put in the mix of what we do the high-speed rail? it's probably in the mix but i don't think that is before us right now. i want to see with a factor would be. that's my world. i want to see supply and demand. if it's not there we are not in the position to build it and they will come. we are just not there. >> moderator: jim higgins? higgins: okay. i am not a transportation expert, and i don't think that these guys are either. i graduate from school as a civil engineer and i worked five years as a civil engineer but i haven't lately working on computers. why should a bureaucrat decide, which, what mode of transportation is the best? what we have rail or highways it got a central in the beginning. we build all of these highways. we overdid it on the highway. now we have our pollution and gas consumption because some bureaucrat decided that we needed highways. now we are trying t
that deficit financing is the easiest thing to do. it seems free to people. unless we hold congress to budget constraints, and until the american people told congress to budget constraints that are necessary, we will not make progress. the idea, i guess, i know there's a high probability that a can will get kicked again, but i think we have to put pressure on this notion that if politicians really care about being fiscally responsible, they have to actually follow through on their claims that is what they want to do. >> donald, what do you think? you think that congress can do this through a well-organized process, or does this have to happen in a grand bargain that happens relatively quickly? >> it is fun to talk grand bargain. i have been with many of those conversations. it is fun to gather people around the table and give them pizza and coffee and hammer out the grand fiscal bargain. there are several of them out there in various levels of detail. but it remains difficult for me to believe that congress is ready to get there yet, or frankly, that the american people are ready to get there
policymakers but american people, we want a strong agreeing economy, that is the goal, not just deficit reduction or reducing taxes or reform, get this economy to lead in the world, that is what we need, a lot can be done, we can have tax reform, closes loopholes and lower rates for companies and individuals. we can cut spending in a way that we help with growth. and help with jobs. >> what do you think that ratio should be? spending cuts. >> neil, it is the $64 question, only policymakers can decided that. neil: but they are not deciding it. >> in past, in different time its was 50/50, i doubt you should to that now, during the budget talks in last year, they talked about three to one spending cuts over tax increases, you can put it did where you want, but in the condition we're in first of all you can't do this overnight, you need a 10 year plan because right now, the economy is not surging forward. neil: looking at december 31, and i guess that is what i want to raise with you, dennis, one thing paul ryan told me earlier, he does not think, unlike some more conservative purists in th
, and their greatest threat to america is not military, it is the deficit. why do we have a deficit? we have a deficit because of the bushmen in their tax cuts, -- bush millionaires' tax cuts, because they are not paying their fair share of taxes. mitt romney is paying 14% of his income. i do not care how much mr. plummer made, but it is how much he paid. if mitt romney paid 14%, mr. plummer want to go to congress and he wants to write tax policy. don't you think it is fair that he discloses what his tax returns are? [applause] center brady, his running mate, in his failed bid to become lieutenant governor, released his tax returns. he did not pay any federal income tax for two years. what is it that mr. plummer has not paid? >> mr. palmer? >> i will answer the question. if you look and what is happening right now in the united states, if you look at what is happening, you have politicians of both polos -- part is not being honest with the voters. the bush tax cuts -- i will call of the obama tax cuts because they supported the extension. we have a tax code that is more than 72,000 pages, and grows ev
to the same standard as well. >> first of all, we have a deficit plan, it's got health care savings. romney doesn't have a deficit plan. he's got a plan to cut taxes for millionaires and billionaires. he's got a 5 trilli$5 trillion. -- another $2 trillion in defense spending. >> just three days into the first presidential debate, meanwhile mitt romney is off to the trail. we have two reports, we begin with nbc's peter alexander, he's with the romney campaign in boston, with a good morning to you, peter. what are you hearing about all the debate preps today. he o'clock najs that this is an important opportunity in her debate. people have a tendency to focus on the small things, like the color of a candidate's tie or the dramatic one liners, which is his need to get across the big picture message. he says if he does that, he thinks he can be effective over the course of the next three debates and ultimately win this thing. we heard this morning from governor chris christie of new jersey, i want to play you another clip from new jersey this morning. chris christ >> and so they're going start t
his stances around immigration. here is a candidate looking at a huge deficit in some of these swing states, deficits among hispanics, deficits among women. he's got to make ground up in this 90 minutes. it's not a long time. he has to please republicans who have been calling for him to get more specific in terms of his plans around tax reform and all sorts of other ideas he has. he has a real tall order going into this debate. >> governor romney is dogged about the 47% remark. i want to show the interview he did this week with a local affiliate. >> if you could go back to that fund-raiser, would you have said it differently? >> it's difficult for me to know how they will cobble 51% of the people. i'm going to be a president for the 100% of the people. i demonstrated throughout my life. >> the question should be if you could go back, would you sweep that room for cameras to make sure you weren't being recorded. will that answer be enough when asked about this? as he is sure to be asked about this tomorrow night. >> i'm sure, obviously, that was a very inartful statement he said. i'm
, and the budget deficit. for obama he holds the advantage on domestic issues, education, medicare, taxes, immigration and health care. these noneconomic issues are the first topics up for debate wednesday night. voters will be judging the candidates personal qualities. obama's favoritability rating
details about his plan to lower taxes and the deficit. >> i think that you'll hear a great deal of specifics and most importantly, you'll hear the contrast. the president's reforms haven't done enough to help the economy. >> both campaigns have gone through the motions of lowering expectations for tonight. but both candidates are season debaters. >> it's all about the economy tonight. the first three 15 minute segments will be devoted to that topic. in denver, colorado, danielle nottingham, derek, back to you. >> all right, thank you danielle. back here, the political editor is with me. you have a focus group outside the beltway to help us out. >> the correspondent organized a focus group in richmond, a half dozen people who are split parties and will talk to them and see when they sought. you're right, the judgment is who won? >> the big question among those voters must be, are any of them among the persuadeables? a small percentage out there. >> it's hard to tell how many people really are persuadeable at this point. for that matter, how many of our group are persuadeabl
democrat bonn the president's deficit reduction committee with alan simpson and pretty good and we should point out he is there too but the president ignored a lot of his -- [talking over each other] >> he is seen as a guy who can bring democrats and republicans like him. the other guy out there whose name is bounced around and bounced around for four years is the ceo of black rock. i consider him a friend. the upside to larry is clearly there is no smarter guy on wall street that i know. he saw between trading and an entrepreneur. and associated -- the obama administration -- there's a european financial crisis, he understands financial instruments, and erskine bowles is a different dynamic. really going to do that. you want to make a deal with republicans and he is the guy to do it but larry as different depending on how you approach it. the wall street firms are going around. with larry taking the job, and natural successor at black rock. i just -- maybe he does. melissa: such a massive pay cut. [talking over each other] charlie: erskine bowles is no stranger to wall street. melissa: t
deficit to talk about as well. we are running at 11% of average rainfall, adding to that fire danger. temperatures will stay pretty warm this evening and overnight tonight. but after tomorrow, there is a significant weather change. we're going to other direction. >>> prosecutors say gisele esteban killed leigh out of jealousy for a boyfriend. >>> a judge has suspended court proceedings for the man accused of carrying out a mass shooting in oakland. 43-year-old one goh's lawyer is questioning his mental capacity to stand trial. the judge ordered two psychiatrists to examine goh and report their findings in court next month. goh is accused of killing seven people at oikos university in april. >>> an albany middle schoolteacher who had been accused of lewd acts with a former student has died. james izumizaki was a popular sixth grade teacher. he was arrested last wednesday after police received a complaint and posted bail. the alameda county sheriff's office is investigating the death as a suicide. >>> most of us know a water reservoir that supplies the bay area with clean water and ene
's 21st anniversary. >>> millions of the dollars in deficit. in eight minutes the south bay city hoping to outsource their police department. >>> and back here in just a few minutes it was really hot today. we had record heat but things are changing around. i will let you know how much cooler it's going to be in your neck of the woods on wednesday. >> a warning about a new salmonella scare. the product being pulled from shelves. -those other store cards... -...preferred shopper... ...club...things... ...kept sending me coupons for cat food. i'm just not a coupon clipper. i buy what i want to buy. can i get a reward for that? [ frank ] introducing something extra from raley's, bel air, and nob hill. you get something extra rewards... ...for the way i shop... for buying the things i like. instant offers, points balance, right here on my smart phone. [ frank ] join today at raley's dotcom, or at your store. ...it rewards you... for being you. [ frank ] raley's, bel air, and nob hill. for food, for family, and now, something extra -- for you. >>> there's another product recall to tell you a
anniversary. >>> millions of the dollars in deficit. in eight minutes the south bay city hoping to outsource their police department. >>> and back here in just a few minutes it was really hot today. we had record heat but things are changing around. i will let you know how much cooler it's going to be in i don't spend money on gasoline. i am probably going to the gas station about once a month. last time i was at a gas station was about...i would say... two months ago. i very rarely put gas in my chevy volt. i go to the gas station such a small amount that i forget how to put gas in my car. [ male announcer ] and it's not just these owners giving the volt high praise. volt received the j.d. power and associates appeal award two years in a row. ♪ >>> there's another product recall to tell you about tonight involving potential salmonella contamination. the centers for disease control says there are no confirmed cases here in the united states yet. costco says it pulled its supplies yesterday when it got word of the possible contamination. the big box store says it will contact members who bo
want bigger government, more intrusive government, trillion dollar deficits as far as the eye can see will vote for him. those who believe we should encourage economic growth, support small business, and create more jobs will vote for me. >> that first debate will take place wednesday night in denver. >>> president obama will stay here in the district today. he has three campaign events scheduled in d.c. the president also campaigned yesterday in virginia. he was 200 miles from romney in virginia beach. >>> the nfl referees are back on the job. the regular refs received a standing ovation when we took the field before last night's ravens-bengals game in baltimore. the honeymoon was short-lived, as you might imagine. the crowd quickly booed when the hometown ravens were called for an unsportsmanlike penalty. this was the first game since the nfl and players union reached a tentative agreement on a new labor contract. nfl commissioner roger goodell apologized to fans for the lockout. >> we're sorry to bring our fans through that, sorry to bring the general public through that. that's, u
the biggest deficit in history. >> gretchen: who is responsible for the other 90 percent. somebody else? we'll break down the numbers next. >> brian: washington post had a problem. >> key to a woman's heart scaring her half to death. staging a plane crash and popped the question. >> gretchen: that would be an automatic no. -[ taste buds ] donuts, donuts! -who are these guys? -oh, that's just my buds. -bacon. -my taste buds. -[ taste buds ] donuts. how about we try this new kind of fiber one cereal? you think you're going to slip some fiber by us? okay. ♪ fiber one is gonna make you smile. ♪ [ male announcer ] introducing new fiber one nutty clusters and almonds. droid does. and does it launch apps by voice while learning your voice ? launch cab4me. droid does. keep left at the fork. does it do turn-by-turn navigation ? droid does. with verizon, america's largest 4g lte network, and motorola, droid does. get $100 off select motorola 4g lte smartphones like the droid razr. seems they haven't been moving much lately. but things are starting to turn around because of business people like yo
of spending cuts or deshl resources to meet its 2013 deficit target. and fitch is lowering its 2012 growth forecasts both for china and india. citing deteriorating outlook of the global economy. so not a great way to start the morning. >> no, not great, but i like seeing what we did -- i saw ge and i was going to tell whoever thinks that we need to kiss up to them still -- >> minority partner. >> they are. but comcast would have been a better -- or we could have done both. and did i see something that it had first quarter, second quarter, third quarter? what do i need in the fourth quarter to get to the 30%? do we hahave that anymore? is that gone? no, they don't have it. >> i saw the dow, s&p and nasdaq. >> what did it add up to? adds up to like 15 or so. >> i just saw for this quarter. >> oh, it didn't show first quarter, second quarter -- >> no. >> there are corporate headlines. people started getting plaq blackberries? >> they beat expectations. >> they lost money, they beat expectations. >> but they added subscribers. >> subscribers in developed countries. the point is a developing --
problems, which are the debt, the deficit, the fundamentals of us spending too much, in time to reform has to be put in place as does tax reform. host: there was a story taking a look at the defense industry yesterday. guest: we are in a tight spot. there is a lot has been on the books since the 1980's that requires you give your employees notice, 60 days usually and 90 in the new york, if you're going to have massive layoffs. that is what is already taking place. we have massive defense cuts last summer when the budget control act went into place. $487 billion cut. a lot of that is now forcing companies to close facilities. to really pull back because there is no choice. host: a covers the situation, we do not even know what will happen yet and yet they are taking place. guest: it covers any situation where you have to do these massive layoffs. last summer congress already took a huge whack out of defense. now we are anticipating in january we will be in the same spot. companies have an obligation to their employees. they have a responsibility to their shareholders. if you know something
of initiatives to educate voters on issues in the election. the debt and deficit exceed $16 trillion. his article will appear tomorrow in usa today. we will show you an excerpt in just a moment. first some context to ross perot. when he ran as a third-party, he talked about the growing debt. \ [video clip] >> the world of a unlamented opportunity. what what they say to us if they knew by the year 2000 we will have left them with a national debt of $8 trillion? what would they say if they knew we make them the first generation of americans with a standard of living below the generation below them? we cannot do this to our children. in this election we have the opportunity to choose a candidate not a career politician, but a proven business leader with the ability to take on the tasks at hand. to balance the budget, to expand the tax base, to give our children back the american dream. the candidate is ross perot. the issue is our children. the choice is yours. host: from 1992 when he ran his first of two independent bids for the white house, falling short in 1992 and 1996. one viewer says we need t
.s. team at the 39th ryder cup. this was aufrl. the europeans roaring bang from a 10-4 deficit late saturday to take a tuning 14 1/2 to 13 1/2 point win. germany's martin kaymer sank a putt on the final hole to seal the victory. honestly it was all lost well before that. europe has won the seven out of the last nine ryder cups. and soledad i don't know if you had a chance to watch this debacle. a debacle embarrassing. >> yes, it was killing my poor husband. all right, john, thank you. >>> back to our top story this morning. two days until the first presidential debate. both candidates are getting last-minute preparations. "the new york times" reporting that mitt romney is coming armed on wednesday night, writing this, mr. romney's team has concluded the debates are about creating moments and has equipped him with a series of zingers that he's memorized and habeen practicing on airds since august. president obama responded to that report last night with this. >> i know folks in the media are speculating already on who's going to have the best zingers. i don't know about that. who's g
the deficit among likely voters for obama from five points to three points. and in florida, he's closed from five down to one which is tied given the margin of error in our poll. in virginia, he has closed the gap from five to two. if you look at the state of ohio, a must-win state for mitt romney, mathematically possible for him to get to it without it but his strategists think he needs it. he needs to make progress there. but the fact that some of the national polls are coming back a little bit, some of the swing state polls are tightening, is a bit of an earn couragement for romney that he still has an opportunity for deficit with three or four points to change the dynamic in some way. he's got to hope that obama is not on his best game. you could have a scenario that like what happened in 2000 where george w. bush moved significantly without gore and ultimately became president. >> it's interesting that the poll also shows, as you mention, this 12% of swingable votes in the middle that he could potentially get a hold of. also ensuring that the big money continues to back him moving forwa
the republican party has gotten lost. we cannot afford any tax cuts. we have to deal with our deficit. that will mean spending cuts for everybody. dagen: is it a mistake to run on this at all? how can you focus been on, because the issue is growth and jobs. how do you run and talk about that without linking tax policy to it somehow? the opposite would be saying we will get rid of these deductions. some people taxes will go up. that will not win you to white house, will it? >> both parties have been -- we cannot afford to give anybody anything anymore. we are broke. we are running a trillion dollars deficit. once we start paying a real normal interest rate on that 20 trillion, it will send the budget even deeper. dagen: all of what you are saying makes perfect sense. i have argued for years that the american people will not vote to pick that until they feel it is home. runaway inflation like the 1970s and skyhigh interest rates like people saw 30 some odd years ago. that is not the case today. if it was laid out just like that, do you think they would vote based on that? >> i think the
's deficit. let's go to clayton. >> big story making headlines this morning. several days after the attack on the u.s. consulate. this is the story that the obama administration was sticking to. listen. >> this was not a preplanned premeditated attack that what happened initially was it was a spontaneous reaction to what had just transpired in cairo as a consequence of the video. >> our current assessment is that what happened in benghazi was, in fact, initially a spontaneous reaction. >> what our assessment is as of the president is in fact what it began spontaneously in benghazi as a reaction to what had transpired some hours earlier in cairo. >> but as fox news reports, the administration knew within the first 24 hours that it was a terrorist attack. so why were americans left in the dark and how could potential coverup impact the election? here for fair and balanced debate is fox news contributor angela mcglowan and mclavigne. this seems like a big problem for the president. >> i don't see it that way. look, the president came out the morning after the attacks on september 12th. came o
on their budget plan, on deficit reduction, but i believe it was haley barbour and others that say the president is not being held to that same standard, the example they bring up is that the president says 1 million jobs -- mitt romney said 12 million and he has not explained but nevertheless, they see this is not equal treatment. when the president is on stage domestic policy, will he be under more fire to talk about the direction of the country because the responsibility and the onus right now is on him being the incumbent? >> i mean, absolutely. here's the reality. if you look at this in terms of, you know, what i think is going to end up happening in this debate, both candidates are going to force -- are going to be forced to answer the gaps if you will. i think the difference is, romney's gaps are the size of the grand canyon. the president i think has laid out pretty clear specific agenda in terms of where he wants to go. plus he has a record that he can go back to. he has a record he has to defend. but romney's problem is, this incredible reluctance to give any details about the loophole
choosing between current job creation and growth on the one hand, and deficit reduction on the other hand is a false choice. deficit reduction enacted now with enforceable limitation of limited period down the road would provide time, hopefully, for recovery to take gold and could contribute significantly to that recovery by ginger in economic confidence and by creating a fiscal content that would allow a stimulus. more broadly, the hamilton project convenes to liberation of her aspects of our broader shorter-term duress, including stimulus and mortgage relief. but our primary focus continues to be long-term economic policy. turning to the longer-term, our country has enormous strengths, dynamic and entrepreneur culture or ask not your resource, rule of law, flexible labor and capital markets, and so much else. dust, -- that's there are immediate hardships to be addressed. we are well-positioned to succeed for the transforming global economy. however realizing that potential requires sound fiscal conditions instead of the current unsustainable and dangers fiscal trajectory, strong public
in virginia told veterans the nation's debt is more than just numbers on paper. >> trillion dollar deficits. that debt is owned by somebody. someone holds that. that puts america in a position of economic risk. >> reporter: but even supporters are split on how romney can win this race. >> there is more fire in the belly. >> he needs to stick with the facts. it's all about the economy. >> reporter: more than half the country already started voting days before the first presidential debate. more numbers now. gallup is reporting the president's approval rating is sticking at 50%. and this could turn out to be his best month in a year. >> tracie potts for us in washington. thank you. >>> last night on the rachel madow show bill burton talked to racel about the impact or lack thereof super packs are having on the romney campaign. >> on the republican side, the story they tell about mitt romney is there is no story about mitt romney. the story they tell about barack obama is well he's always bad things. if you're trying to figure out well what is it that -- what's the strategy here? how are we tr
. europe rallying from a 10-6 deficit to match the largest come back in the event's history. sinking the 14 st. and deciding -- the deciding point at the 18th hole. the mad dash for william mac ill roy who needed a police motorcade because he arrived 11 minutes before tee time. he forgot ill sinl tral time and not eastern time. >> he thought he was going to have enough time to warm-up. didn't have enough time to warm-up. >> that is stressful. >> that is the only thing on my tv. >> it is now 40 minutes past the hour. arnold schwarzenegger opens up for the first time about that affair. listen to this. >> she then says, hey, i think that joseph is your kid, and am i off here on this or not? >> more on that moment his wife maria schriver confronted him about his love child. >> it's the last chance to whens the question of the day amid the recent spike of insider attacks. >> let's span the globe to see what headlines are happening overseas. take a look at this. strong winds from a typhoon picking up a car sending it flying across the parking lot. wow. the video shot by a u.s. marine and so far t
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